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Video Display (VIDE) to Resume Corporate Stock Buyback Program

ATLANTA, Oct. 7, 2011 (GLOBE NEWSWIRE) — Video Display Corporation (Nasdaq:VIDE) a leading U.S. designer, manufacturer and distributor of specialty military, medical and industrial display solutions, today announced that the Company had received authorization from its commercial lenders to reinitiate the company’s common share buyback program. The stock repurchase program is subject to the Company remaining within the guidelines established by the banks on a quarterly basis and it is restricted to specific total dollar purchase limits.

Under the current provisions of the Buyback Program previously authorized by the Company’s Board of Directors, the Company repurchased 229,037 shares of common stock during the fiscal year ended 2/28/2010 and no shares were repurchased during the fiscal year ended 2/28/2011. The balance of common shares authorized under the plan to be repurchased is 816,418 shares, depending upon the market price and other conditions at the discretion of management. There is no minimum number of shares required to be repurchased under the Program.

As of the end of the Company’s second fiscal quarter ended August 31, 2011, the total number of common Video Display Corporation shares outstanding was 7,648,742.

About Video Display Corporation

Video Display Corporation designs, develops and manufactures unique solutions for display requirements for military, medical and industrial use with emphasis on high end training and simulation applications. Its product offerings include rugged AMLCD and CRT displays as well as complete projection systems utilizing VDC’s Marqueeâ„¢ line of projectors. Video Display Corporation operates 8 display design and manufacturing plants plus additional sales facilities throughout the United States and Europe.

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, from time to time, Video Display Corporation or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings made by the Company with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the Company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions, including items discussed in the Company’s Form 10-K for the year ended February 28, 2011, filed with the Securities and Exchange Commission. The Company undertakes no duty to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.

Friday, October 7th, 2011 Uncategorized